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Florida Home Equity Loan

A home equity loan is great for people who need the cash to remodel or make a large item purchase such as an investment property or a new car. A home equity loan is basically a second mortgage, which is a loan with a fixed amount of money repayable over a fixed period. These rates are lower than credit card interest rates which sometimes go as high as 20%. In addition, the interest you are paying on the home equity loan in Florida will be tax deductible.

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We can help match you up with local mortgage companies in Florida that can provide you with a home equity loan no matter if you have excellent credit or very poor credit. Who wouldn't want to borrow $50,000 at less than $500 a month? Of course, that figure will depend on your credit rating, the prime lending rate and your financial history.

In additional to shopping online for a home equity loan, I'd suggest checking with your local credit union to see what they can offer you. When comparing different home equity loan quotes, check the fees associated with the loan and not just the interest rate. For example, the origination fee, typically 1% of the loan amount, title search, document preparation and other closing cost. When comparing fees of different home equity loans, some mortgage lenders will waive closing costs and other fees, so be sure to ask for a waiver.